Selling metal riyals for paper riyals
Machine translationRead the Arabic original
Question:
He has the last paragraph in his letter, O Shaykh Salih, regarding the ruling on selling metal riyals for paper riyals.
Answer:
There is nothing wrong with that, provided they are equal in value, with no difference in value, because they are currencies among currencies, so they are of the same type, and riba (usury or interest) applies to them. So if he sells a metal riyal for an Arab riyal, or a paper riyal, there is nothing wrong with that. But he must not sell a metal riyal for two paper riyals, for example; this is not permissible, because it is one currency, and they are also of the same type. Yes.
He has the last paragraph in his letter, O Shaykh Salih, regarding the ruling on selling metal riyals for paper riyals.
Answer:
There is nothing wrong with that, provided they are equal in value, with no difference in value, because they are currencies among currencies, so they are of the same type, and riba (usury or interest) applies to them. So if he sells a metal riyal for an Arab riyal, or a paper riyal, there is nothing wrong with that. But he must not sell a metal riyal for two paper riyals, for example; this is not permissible, because it is one currency, and they are also of the same type. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، برنامج (فتاوى) (080) لمعالي الشيخ صالح الفوزان بتاريخ [1436-02-25] - كبار العلماء — youtube.com (16:39)
The Arabic text is a machine transcription of the audio recording.